Is Quotex a Scam or Real? SECP issues warning

Securities and Exchange Commission of Pakistan (SECP), has sounded the alarm over a surge in unregulated online trading platforms luring unsuspecting investors with promises of sky-high returns. These platforms, operating without licenses, are exposing users to fraud, financial ruin, and zero legal protection.

The SECP’s latest warning specifically names Quotex, an offshore platform offering risky investments in forex, commodities, and speculative instruments. “These schemes are wolves in sheep’s clothing,” the SECP stated, revealing that Quotex and similar entities have no approval to operate in Pakistan. The agency has escalated the issue to the FIA, PTA, and Google, pushing for an immediate nationwide ban on Quotex.

Why This Matters:

• No Safety Net: Investors risk losing all funds with no legal recourse.
• Social Media Traps: Many schemes are peddled via WhatsApp groups, influencers, or flashy ads.
• Offshore Danger: Platforms like Quotex operate outside Pakistan’s regulatory reach, making recovery of stolen money nearly impossible.

SECP’s Urgent Advice:

1. Verify Before You Trust: Check if a platform is licensed at www.secp.gov.pk.
2. Avoid Quotex: Do NOT share personal/financial details or invest through it.
3. Ignore “Guaranteed Profit” Hype: If it sounds too good to be true, it probably is.